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wished you had... >> yeah. >> ...taking care of you instead of bumming money off of you, for a change. >> yeah. i'm glad i nominated my sister for the show because it's taught her a lot, and i see a lot of improvement. >> i think gail really, really showed her, like, "you're doing stupid things." >> let's see what sarah has to say about how she thinks she's done, okay? hello. >> hi. >> so, do you think you did really well this month? >> i think i did pretty good. >> okay. what would you say are the top two lessons you learned this month? >> i learned that i need to stop borrowing money from people and take responsibility. and i learned that i really need to start going with my goals. >> what would you say is the biggest surprise, going through the process? >> learning to be on my own. >> sam, what did it feel like when you knew your sister was off to sell her precious purses to buy you a dress? >> it felt good to see her do something for me, once in a while. >> yeah. i think you've done very well. i don't know if you did everything perfectly. yeah, you did. here's your check for $5,00
of changes to domestic tax rates that we have been alluded to that are attractive for those russian companies in cyprus. in terms of the broader solution, whether it is just the changing of the terms of that 2.5 billion euro loan, an extension, another 5 billion which is sensibly would cover most of the money which would have been raised by the deposit tax. i'll put this forward. the more risk there is now associated with companies, countries, individuals holding money in cyprus, surely those companies and countries and individuals will not want to keep their money in cyprus and you're going to risk capital flight the minute those controls come off whether they are russian investors are global investors and more money that leaves the system, the larger the bailout has to be and there is the problem unluck unlocked eu proposal. >> thank you very much. appreciate your time. here's a look at what's happening in markets as we digest news flow. it's green behind me. this goes back to the point people are making when it comes to the crisis. despite the extraordinary nature, we're still looking at a
such a broad range of content types, as the way that we all share changes, the composition of news feed naturally changes as well. so you know, back when we were first getting started, news feed was primarily made up of text. but now that we have these cameras in our pocks with the phones, we can upload photos, news feed has become primarily about visual content. as can you see, since the end of 2011, now almost 50% of the content in the average news feed is photos and visual content. and similarly, a lot of us think about news feed as primarily about friends and what your friends are up to. but again, since the end of 2011, you can see the amount of content from pages and public figures who you are following publicly has increase sewed now in the average news feed it is more than 25, almost 30% of the content. so how we are all sharing is changing. the design of your news feed needs to reflect this evolving face of news feed. and who you are sharing with. of course we want to share with friend and get updates from friends but we also want updates from publications and businesses that w
-profile companies have recently had big changes at the top. from the golden arches to the king of club retailers. but are these blue chip shares still strong with new leadership at the helm? cramer's looking inside the executive suite to find out. all coming up on "mad money". >> don't miss a second of "mad money." follow @jimcramer on twitter. have a question? tweet cramer #madtweets. send jim an e-mail at cnbc.com or give us a call at 1-800-743-cnbc. miss something? head to madmoney.cnbc.com. [singing] hoveround takes me where i wanna go... where will it send me... one call to hoveround and you'll be singing too! pick up the phone and call hoveround, the premier power chair. hoveround makes it easier than any other power chair. hoveround is more maneuverable to get you through the tightest doors and hallways. more reliable. hoveround employees build your chair, deliver your chair, and will service your chair for as long as you own your chair. most importantly, 9 out of 10 people got their hoveround for little or no cost. call now for your free dvd and information kit. you don't really have to
around the kennedy space center changed in a way that may surprise you. [ticking] >> inside, you feel like a part of you has been ripped out from losing a job. >> 1/3 of the unemployed have been out of work for more than a year. it's been hard on them and the economy, but we found an experiment in retraining... [paper tears] >> the resume, very soon, will become an obsolete tool in the job-search process. >> that may just offer a way back. you just got a new job. >> yes, i did. brings a smile to my face. >> i see that. >> welcome to 60 minutes on cnbc. i'm bob simon. in this edition, we look at two innovative experiments in the housing and job markets aimed at solving long-term problems caused by the great recession. and later on, we examine the impact on brevard county, florida, of scuttling the space shuttle program. we begin with the housing industry. chances are the home you're in isn't worth what it used to be. you may not have indulged in the real estate bubble with its liars' loans and wall street greed, but you were stuck with the bill. and if you thought your home value could
of change in washington. the old guard of the republican party seems to have lost its authority and maybe its mind. now the young guns in the party are taking center stage. who are these new stars? we're going to fill in the blanks just ahead. please don't forget free market capitalism is the best path to prosperity. it is business, not the government or the federal reserve that ultimately creates those jobs. i'm kudlow. we'll be right back. ♪ than the sun ♪ tonight carfirmation. only hertz gives you a carfirmation. hey, this is challenger. i'll be waiting for you in stall 5. it confirms your reservation and the location your car is in, the moment you land. it's just another way you'll be traveling at the speed of hertz. try running four.ning a restaurant is hard, fortunately we've got ink. it gives us 5x the rewards on our internet, phone charges and cable, plus at office supply stores. rewards we put right back into our business. this is the only thing we've ever wanted to do and ink helps us do it. make your mark with ink from chase. >>> so there's a new group of leaders emerging f
and change whereas brent is so high and of course, our gasoline is priced up at brent because of the mismatch of the non-federal policy on energy and everywhere we don't need it. we don't have keystone yet and we can't get the refiners and they used to have the right oil and they're all for heavy oil. >> you mentioned two problems that require the federal government to have a response. an energy policy and an immigration policy. neither of which yet exists. >> no. 6:30 dinner is sacrosanct at the white house, and we know when we have congress people on they seem to want to spitball each other and throw mud. i don't see the consensus developing. everyone thinks the market can take care of itself. you can't. the cng, compressed natural gas, so the companies want gas, but they want the -- you can't do what's uponed without the federal government. not subsidies, but just law. >> let's switch gears here and talk about apple. jefferies is cutting its price target from $420 a share from $500 while maintaining a hold on it. asia channel checks have led him to cut revenues to the low end of current qu
, or signs in a woman, which may include changes in body hair or a large increase in acne, possibly due to accidental exposure. men with breast cancer or who have or might have prostate cancer, and women who are or may become pregnant or are breastfeeding, should not use androgel. serious side effects include worsening of an enlarged prostate, possible increased risk of prostate cancer, lower sperm count, swelling of ankles, feet, or body, enlarged or painful breasts, problems breathing during sleep, and blood clots in the legs. tell your doctor about your medical conditions and medications, especially insulin, corticosteroids, or medicines to decrease blood clotting. so...what do men do when a number's too low? turn it up! [ male announcer ] in a clinical study, over 80% of treated men had their t levels restored to normal. talk to your doctor about all your symptoms. get the blood tests. change your number. turn it up. androgel 1.62%. > i'm jim cramer. welcome to my world. you need to get in the game. firm are going to go out of business and he's nuts! they're nuts! they know nothing!
-- >> that's pocket change. literally pocket change for warren buffett. >> what did he say, his perspective is always interesting. >> his demeanor -- >> even when it comes to newspapers. >> local is still important. >> if he still likes stocks and likes companies, shouldn't people at home like stocks and companies? he's a thoughtful man. i like him. >> let's talk about the markets overall as we start the week. the dow starting within 75 points of its all-time closing high. the markets are facing some headwinds. you have continued wrangling in washington over the sequester. data showing the wealthy shouldering the load in consumer spending. futures are lower after a sell-off in the shanghai market after beijing announced new property buying restrictions. you add all these things together, jim, and you think slowing growth around the world. we also, of course, got the terrible pmis on friday which showed slowing in europe, across europe. >> the best performing groups, augmented by the purchase of heinz, are these companies that do really well in a slow economy. kimberly, clorox, they're very
this number is baked in the cakes, the claims numbers, four-week moving number show there is no change in the labor market. the jolts data show you no major change in the labor market. none of the other indicators we look at show us there has been any near-term change in the labor market. we expect it to come in right around average, a little bit better than the consensus, we still, as we look forward in terms of looking it he squeeze on corporate profitability and corporate focus on earnings begin to think we are going to have a second quarter dip in employment, into the decline in employment, but a slow down in the pace of employment the second quarter, bring it back below 150,000 workers per month. >> steve, as an economist that sees weakness in future months in general in the economy, questioning the strength of corporate profits at this point, are you a bit surprised the markets are at record highs? i mean is this -- >> our view is the equity market is following what happened in the economy. the economy returned to the precrisis high several quarters ago and got the equity mark th
through changes of entitlements and repeal of obama care. it balances the budget in tense years without raises taxes. it was says under that proposal, they'll spend $41 billion. under our proposal, it will increase by 3.4% because the u.s. economy will grow faster than spending, the budget will balance by 2023. and debt held by the public will drop to over half the size of the economy. it does that by repealing obama care and that is going to have a very difficult time, especially with the administration and also in the senate. we're going to talk more about budget debate in a few minutes. then at 8:00 eastern time, we'll be joined by tom price. he is one of a handful of republicans who prose part of the van pollen. and then 8:120 eastern time. first, snow, scott wapner is here with some of the morning's other headlines. >> nice to say you. at&t is going to begin consumer and corporate presales of the blackberry's e-10 today. meantime, samsung is set to release its latest smartphone. yum brands reporting an unexpected 2% rise in profits. take a look at shares of yum. there you see the s
to think that's going to change anytime soon. but i am on the lookout for something that comes along to disturb that pretty comfortable view right now. >> yeah. it's interesting, rick santelli, because we keep hearing all this talk about the great rotation, money coming out of fixed income, out of bonds, and into stocks. and so far, anybody you talk to keeps saying, who's buying? well, this newfound buying and this new momentum that we saw in 2013 is all from cash. 4 401ks, it's not coming out of bonds. >> end it so interesting that in the eight days, starting on the 28th of february, that brought us to this record, in those eight days, the range of closing yields is about 20 basis points. so the surreal effect of what's going on, not to dismiss it, but it really is surreal. i mean, as a fixed income guy, with which great run, i would have suspected interest rates to be much higher. so we do get back to the fed. i always find it fascinating that the people really talking about this great rotation, like stocks, don't want to acknowledge so much that the fed's at the epicenter. but it
are changes looking in this rally right now? >> i think the amazing thing, and you're going to talk to jeff sprecher, maria, in a couple of minutes. i want to point out the exchanges are all hitting new highs today. the volume has been light. i.c.e., new high. i think people are starting to understand the synergies there. cboe, that's a new high. they locked up the s&p options contract for at 14 years. they just announced that. that's a big steal. but nasdaq's at a new high as well, cme, chicago merck, also at a new high. virtually all of them. but on stocks, the volumes keep dropping, and that's the primary driver that we're looking at here. so here's your average daily volume, so far. 6.4 billion, for the first quarter of 2013. last period, 6.8 billion. and first quarter of 2012 was lower than the first quarter of 2011. finally, that s&p 500, i want to point out, there's your 12-year chart. this is a triple top. 1565 would be a new historic closing high for the s&p. but we were here in 2007, a little bit below that, and also right near it as well in 1999/2000. guys, back to you. >> thank
this because they are changing the way they count subscribers. now they will count every new blackberry 10 user as a subscriber. so you have got to watch the overall service revenue now. >> another tech company i know you have been watching is ebay, which is having an analysts day. >> he's pitching that their addressable market is 10 trillion dollars as opposed to the 1 trillion as ecommerce. using your phone or your papal number, not as quick as swiping a credit card. so, we will be talking to him about that in closing bell. >> we are going to mention that in just a moment. it's great to have you here. >> nice to be here. >> best dressed man in tv. >> you say that to all the guests. >> that's a nice jacket, man, whoa. >> this guy is big. >> he's been working out. >> he is going to be on cnbc. >> and blackberry's ceo is going be first on cnbc to give it back. >> and pinnacle foods is currently trading up. and priced at $20 a share. that was at the height of expectations. the float values the company at $2.3 billion. >> simon, metro pcs shares moving higher. reporting that deutsche telecom is no
the big three in the u.s. >> plus big tax changes coming for big earners. how it will hit your portfolio and your retirement stash. >> a lot of political uncertainty over in italy, sparking fresh worries for the markets today. >> utilities have been a safe haven and continue to be so. big winners for the dough this hour, mcdonald's, j & j, intel and microsoft. the biggest losers? natural resources at a 52-week low. logitech is also down. inventories and fears about the euro zone pushing oil lower. down just a fraction now. nat gas is up 2 and a third%. up more than 20% this year. let's get more on the trading action. >> we're off the lows. once again, we're just on the razor's edge of everything that happens in europe. >> very choppy trading today. it's 3-2. some of the big names that are out there including some of the tech names and some of the material names certainly on the downside. there are some pockets of green. medicare is on the upside. they will announce the advantage rates on april 1. there are some reports that the rate cuts may not be as bad as some people were fearing. a l
a constructive relationship with the venezuelaial government." it doesn't seem as if too much will change. after announcing the death, interim president maduro said he will expel a u.s. military official for meeting with military officers. >> translittranslator: you all the united states, the imperialist elite who look down on our people, have the objective of destroying the independence, democracy, and peaceful life of our country. they have decided to put in motion plans for the global destabilization of venezuelan society. >>> coming up on the show, we'll speak to one guest who believes there was already a risk of continued instability in venezuela even before news broke of chavez's death. we'll see whether the view has changed in around ten minutes. >>> we'll get a take on latin america as a whole, including what investment opportunities exist in brazil amid faltering economic growth. >>> plus, we'll be in hong kong for a few on whether new measures by beijing to curb the rampant property market will have a lasting impact. >>> and as london plays host at cable congress 2013, we'll have exclu
officials ignored growing risk and hid losses from regulators. it accuses the bank of changing risk model toes work around capital rules. ceo jamie dimon comes under heavy criticism from the senate panel. he is not scheduled to be among the bank officials testifying out there today. although some are wondering if he will show up and defend himself. it was a rough night for jpmorgan. in a separate story, the fed is telling the bank and rival goldman sachs that their plans for maintaining proper capital levels are weak. regulators are ordering both firms to revise their capital plans by tend of september. the fed turned down similar requests from allied financial and kayla tousche is here with more on this story in just a few minutes. but first, brian has a look at the markets this morning. brian, welcome. it's great to see you. >> i wish i could say the same thing, becky, but it's early. i can't believe you guys do this every day. listen, becky, the dow extending its winning streak to ten straight sessions. we have not seen a string of gains like this since jerry mcguire was the number one
and a ton of the jobs, as well. they realize it's going to be a change of livelihood. changes that will happen in this country no matter what are going to be startling to the people here. >> i saw all the headlines coming from russia and the president here making strong comments. is that going to fall on deaf ears in europe? is that not a big deal as far as they're concerned? >> that would be my interpretation, absolutely. would you agree with that, adam? whatever russia says is going to fall on deaf ears when it comes to the troika? >> it doesn't fall on deaf ears. but the europeans have made a categoric statements. cypress has to come up with 5.8 billion euros. it can't be through new loans, it can't be through the pension funds, it can't be through securitized tax. even if they're going to come up with a tax on deposits or something else, they're going to have to solve the banks without the cash. >> but they don't care about the russi russians? >> they care about the russians, but not enough to give them another 5 billion euros. >> michelle, that you can very much and adam,
out of its funk finally. but leadership change in china. there's a lot of changes going on that are making people nervous and when they are nervous and they are looking for stability they are finding it here >> you're a very widely followed strategist so i have to ask right at the beginning here where do we go from here? what's your strategy? >> well, i think the trick to this bull market has been just not to get thrown off it. i mean there's been some pretty nasty corrections in 2011, there was a 19% decline. but i've been sticking with it because like you i've been focusing on profits and companies have done a great job of creating profits and this notion that it's all come at the expense of workers, i think maybe initially it did but you are starting to see employment pick up. and a lot of the weakness was really in the housing related areas and we're getting a second recovery. housing has been lagging behind and it's now recovery. usually it leads the recovery. right there from the get go, real gdp has been at a record high. >> you're basically, you're diverse. >> i'
much some things have changed. not all for the better. kayla is joining us with that angle. >> back then october 9,2007 solya boy was at the top of the charts and the final harry potter book at the top of the shelves. for drivers there was less pain at the pump. what you were spending on gas you could be saving on your mortgage. the rate on a 30 year fixed as come down. students and parents back then were paying in cash for college. more than doubles to over $1 trillion. national debt nearly doubling as well. a number that has swelled to nearly $17 trillion. one rise that has been good for consumers shares of apple closing up 226% from the 2007 level. the company has launched five iphones and the ipad. >> five iphones and the ipad. the market bursting through walls of worry today to get to the record high. mandy has what the dow overcame. >> he has three more stocks you should know about. back in a moment. everyone's retirement dream is different; how we get there is not. we're americans. we work. we plan. ameriprise advisors can help you like they've helped millions of others. to h
brings change. he had the first jesuit to be named pope. guys, back to you. >> mary, all the reports that i've heard, at least the initial reports, show that huge amount of enthusiasm, talking about what you mentioned with his humility, with his real touch with the people. he's known as a soccer fan and a man who walks among the streets and that's makes the people in argentina love him all the more for those issues. but you're right, he face aes huge number of hurdles with the scandals that have come up in recent years. >> it's true. and i think what's interesting is picking basically someone who is considered a pastor as opposed to a theologian. the church is understanding that. they need someone who can reach out and make a connection with the people because pope francis had a similar problem in argentina, feeling the catholic church didn't do enough to fight back against a very abusive government. so he's used to dealing with a disaffected populous. >> that has been the one criticism that i've heard, is that you'll see much more on his silence during those years in argentina durin
changes alone are simply not enough. ms. markel saying germany simply cannot accept a solution under which pension funds assets will be nationalized. >> kelly, this is down to the wide. this is a last ditch attempt, but we only have three days left to find a solution. back over to you. >> carolin, thanks very much for that. it is interesting because cyprus has reached this agreement with the troika. a, because that's what they would like and, b, russia is not going to give them the funds to otherwise raise the money that's needed. a cypriot spokesman has confirmed that the country's finance minister left moscow. steve sedgwick is calling in on the line from moscow. steve, russia is happy to stand pat while cyprus try toes come up with a solution. >> what we're going to get is an announcement from the european commission and the russian federation. this is looking at a whole host of longer term issue between the european union and is russia. the relationship needs a reboost after disagreements over syria, over trade, over the wto, over human rights and now, of course, most aggressively of c
in children or changes in body hair or increased acne in women may occur. report these signs and symptoms to your doctor if they occur. tell your doctor about all medical conditions and medications. do not use if you have prostate or breast cancer. serious side effects could include increased risk of prostate cancer; worsening prostate symptoms; decreased sperm count; ankle, feet, or body swelling; enlarged or painful breasts; problems breathing while sleeping; and blood clots in the legs. common side effects include skin redness or irritation where applied, increased red blood cell count, headache, diarrhea, vomiting, and increase in psa. see your doctor, and for a 30-day free trial, go to axiron.com. otherworldly things. but there are some things i've never seen before. this ge jet engine can understand 5,000 data samples per second. which is good for business. because planes use less fuel, spend less time on the ground and more time in the air. suddenly, faraway places don't seem so...far away. ♪ >>> welcome to "power lunch." another day and another dow record. dow jones adding on to
tonight call it deficit dinner diplomacy. president obama has changed his strategy and now meeting with key republican senators and house members, finally a falling of the political ice and rolling up of the sleeves in washington. you know what? i say this is a very positive development. it's a good new strategy for the president and i give all the credit for it in the world. now, we'll see what it brings. speaking of positive, another record high close for the dow and key economic data points looking positive. the market rally is not all about ben bernanke's fed. both profits and economy are doing better than many expected. i'm playing this from the optimistic side. there's no debate about the economic impact about america's booming energy sector. last two reported months we kicked saudi month in oil production. american ingenuity strikes again. >>> first up this evening in search of the big budget grand bargain president obama is take agnew approach in dealing with the gop inviting them over for lunch and dinner and picking up the tab. john harwood joins us now with all the detai
to change their whole approach, right? guys are saying, revising their estimates, some as high as, excuse me, as high as 3% here in the french quartirst quarter. which means that everybody is now getting on board. there's nothing right now in the near-term that is going to slow us down. but there are a couple of things, you know, to be fair, there are some head winds you've got to look at. feds will be making some comments on the banks. they're going to be paying close attention to that. >> i think that's going to be a market mover. >> it could be. and another part of that, too, maria, is that tomorrow they're going to be releasing findings of jpmorgan's handling of the london. so you've got to be somewhat willing to be nimble on this one. >> so tomorrow we could see a sell-off. >> we could see a sell-off tomorrow, based on the financials. a little bit overdone here. but look, still in the macro scheme of things, the fact of the matter, this thing is being driven by housing, interest in housing, pent-up demand for housing, which is being spurred by low interest rates. and until the fed has d
, viewing itself as a victim of the violence, not a facilitator. but all of that changed in 2001 when the u.s. government designated the paramilitaries a terrorist organization, making any kind of financial assistance to the group, coerced or otherwise, a felony. yet chiquita continued to make the payments for another two years, claiming it missed the government's announcement. it was in the newspapers. it was in the cincinnati enquirer, which is where your company headquarters is. it was in the new york times. i mean, this is a big part of your business, doing business in colombia. how did you miss it? >> well, again, i can't-- i don't know what i-- what happened during that time frame, frankly. what i know is all the data shows that the company, the moment it learned that these payments were illegal in the united states, that's when they decided to self-disclose to the department of justice. >> by self-disclose, he means chiquita, on the advice of its attorneys, turned itself in to the justice department, and one of the first things aguirre did when he became ceo was to stop the payments
linked. [ticking] >> t. boone pickens is on a national campaign to change american energy policy. his plan is to replace foreign oil with natural gas and wind, which he says will be good for the country and good for him. what's the balance for you between, "i'm doing something for america," and, "i'm doing something for boone?" >> oh, you know, no question. i'm rich enough. i mean, let's don't talk about boone. but i don't want-- >> what do you mean, don't talk about boone? boone thinks about boone. >> well, let me tell you, i sure as hell don't want to lose. i'll tell you that. >> welcome to 60 minutes on cnbc. i'm steve kroft. in this edition, we meet three maverick businessmen: medial mogul ted turner, tech tycoon larry ellison, and oil man turned alternative energy crusader t. boone pickens. we begin with ted turner. the cable news pioneer built an empire and a massive fortune in the 1980s, only to lose a good chunk of both in the ill-fated aol time warner merger of 2001. despite the losses, he's maintained the manic energy that drove him to change the landscape of the information
doctor about all your symptoms. get the blood tests. change your number. turn it up. androgel 1.62%. you are gonna need a wingman. and my cash back keeps the party going. but my airline miles take it worldwide. [ male announcer ] it shouldn't be this hard. with creditcards.com, it's easy to search hundreds of cards apply online. creditcards.com. ♪ [ female announcer ] life is full of little tests, but bounty basic can handle them. in this lab demo one select-a-size sheet of bounty basic is 50% stronger than one full sheet of the leading bargain brand. bring it. bounty basic. [ticking] >> oh-ho! mama mia! >> ted turner is one of the largest individual landowners in the united states. he owns two million acres across 12 states. he's been described as a genius and a jackass. he's decided to reflect on a tumultuous life and more or less tell all. >> good girl, dixie. >> ted turn may have mellowed a bit, but he's still incapable of pulling his punches. >> now there's not anybody i don't like. but after this interview's over, i may not like you. >> [chuckling] yeah. [ticking] >> i suppose yo
unexpected signs of early puberty in a child, or signs in a woman, which may include changes in body hair or a large increase in acne, possibly due to accidental exposure. men with breast cancer or who have or might have prostate cancer, and women who are or may become pregnant or are breastfeeding, should not use androgel. serious side effects include worsening of an enlarged prostate, possible increased risk of prostate cancer, lower sperm count, swelling of ankles, feet, or body, enlarged or painful breasts, problems breathing during sleep, and blood clots in the legs. tell your doctor about your medical conditions and medications, especially insulin, corticosteroids, or medicines to decrease blood clotting. so...what do men do when a number's too low? turn it up! [ male announcer ] in a clinical study, over 80% of treated men had their t levels restored to normal. talk to your doctor about all your symptoms. get the blood tests. change your number. turn it up. androgel 1.62%. [ticking] >> warren buffett, america's second-richest man, is a household name, his son howard not so much. an
this man has learned. >> it feels like sentiment is changing on the stock, for sure. >> we have the galaxy coming out. that's got to be the point of worst -- liket comes out. unless galaxy sells 42,337,000 new galaxy s44 ss, people are going to be disappointed. it is time for people to start being disappointed about samsung before we see the numbers. >> the expectations are 10 million units sold in the first month on sale. with the s3 they had some supply issues. they lost $2 million in sales. they say they've remedied that this time around. but there are hiccups that could be seen with samsung. is the s4 anything revolutionary? no. >> that was the discussion yesterday with the analyst on at 11:00. there's no form function that's going to be revolutionary at all in hard way. until they figure out how to make a benable screen or something. bells and whistles are getting harder to come by. >> don't you think we should create a whisper number of 10 million? we can create our own disappointment right here right now by fomenting a number that's impossible for them to reach then literally say th
and will it be a bernanke bounce or buzz kill? we'll be focused on the statement and the news conference changes to language and the new fed forecast for the economy. and the stocks we're focused on this morning, blackberry getting an upgrade at morgan stanley and a note titled why it won't go down and it gets into the best buy bull camp, and calling it the best near-term idea in the sector. let's get straight to fedex. the package delivery company says it earned $1.23 a share in the fiscal third quarter and below wall street forecasts. fedex says the customers were choosing slower transit services. this does happen, of course, after a massive run in the transports. >> one of the things that amazes me about fedex is they keep missing and they get loved a few days later. missed and gets loved. it's still regarded as being a profit machine. they have this restructuring that people like very much. people feel it's only a matter of time before someone steps up to the more expensive freight. to me, my charitable trust owns ups. ups has the expectations lower. scott davis always says negative things. >> melissa h
by the change in book value versus the s&p 500 with dividends added back. i mean, you can buy a -- an index fund, a very low cost index fund and get those results. so unless we're delivering something better than those results over the years, we aren't doing anything. and it's true now that our -- the real value of berkshire is considerably greater than book value. but year to year, book value knot a bad tracking measure of how our intrinsic value is. some years we -- well, generally speaking, if the s&p has a big up year, we're going to fall short because they're 100% in stocks. we're a third in stocks and then we -- hacks affect our gabes. we take 35% off those gains as they occur. but ur job is to beat them over time. >> berkshire was up by 14%. >> 14.4% for me to be rounding there. is that a reflection, you think b, of -- this has now been four years running that berkshire has outperformed the s&p there. is that a reflection of how big berkshire has gotten at this point? >> both. but it's beat us three out of four. and, of course, we've still never had a five-year period when we've fallen sh
the market has had. ten straight updays as not happened since 1996. one analyst, a key analyst changing his tune on beaten down jc penney. is he calling a bottom? we will tell you why. we have been seeing a lot of much better housing numbers. but there is a wave of foreclosures that may swamp homeowners from sea to shining sea. hi, simon. >> good afternoon to you. we're up 62 points on the dough. so well on its way to a tenth straight positive close. this would be the eighth straight record breaking close for the dow. that is unprecedented. year to date, the index is up an astounding 10.7%. the dow is also on track for its best quarter of the year since 1998. a lot of stats there. since 1950, there have only been 12 times when the douw has finished the first quarter 8% or more. -- now as far as the s&p, the broader index, we are very close now to the one-time record close of 1565. the inter-day record is 1566. both of those numbers are within striking distance of where we are trading now. the s&p is up. that is a bull market. let's get to bob for all the action today. >> i hope you got all
's intended, just as positive and constructive criticism. okay? good. what has changed about how you feel about what's your parents' money and what's your money now? >> i like having my own money. like, i appreciate it more, i find. >> right. >> and i feel better when i spend my own money compared to when i spend theirs 'cause i know i've worked for the things i'm purchasing. >> right. >> i feel like it's well-earned rather than just taking it or asking for it. in the long run, like, it's made me a lot happier. >> good. >> and i'm a lot happier to be who i am and, like, proud. and i enjoy going to work and going home to my house and helping out my friends. >> you stay on track, and you have a great future ahead of you. you now have the tools. you know how to make a budget. >> [ laughs ] >> you know not to go back into debt. don't spend money you don't make. track your money, set limits on what you're spending, and you'll be fine. okay, you know what? i think you did really well. i am very pleased with how you did. i'm so pleased, i'm giving you all the money. [ laughter ] >> thank you. >>
was an astonishing 7.2%. there you can see the three-month change has moved from minus 30 percent to plus 45.6%. abigail i cite this because first of all business investment is crucial to growth. second of all, it's having a tremendous comeback in the last six months and third of all it could be a great job creator, what's your take? >> i agree with you. these are excellent numbers. if you take it back to november, the growth is actually 9.3% for the highest growth in many, many years. this is clearly a positive for the economy. i think if you put this together with pending sales, case-shil r case-shiller, i think there are some warm spots in the economy. we're seeing some improvement. on the other hand, we have the mediocre job perform manages. ism is in a down trend. the all important velocity of money. >> i intend to agree. isn surprised everybody. andy cross, one thing i want to note though. we have this sort of disconnect between profits and jobs. okay. i get that. now if these capital investment numbers continue, this is so important, i think, to the stock market. it means profits wil
altogether. now, speaking of which, as expected, no change in policy in the boj this time around. investors are looking forward to a new regime change at the central bank when a new chief comes on board. if all goes well, kuroda could be confirmed next week. many expect the central bank to release fresh moves. is this then the calm before the storm? we'll have analysis on just what the new governor has up his sleeve live at 10:20 cet. first, though, check on markets in asia. li sixuan joins us from asia. we just talked about the bank of japan. what was the market reaction? >> thank you the despite the dow racking up another record high, asian bourses were. the boj may be bracing for bolder actions under the new governor at its next meeting in april. the nikkei 225 rose briefly ending a fresh 4 1/2 year high and ended up 0.3%. olympus shares made solid gains today, up 5.5% after the nikkei business daily said the company ames to slash interest bearing dead with around $1 billion for the year. in china, investors remained cautious with key economic data out due out tomorrow and this weekend.
changes. at this point, the committee judge said no adjustment was warranted. >> so, they can vary the purchases if the economy looks better and he has all the labor market indicators, i thought he was putting us on warning that he may not do $85 billion every month this year. >> well, i think, larry, i think you are right. previous statements said that they were going to separate the bond purchases from money policy. but today he was more specific and you hit it right on the head and you introduced the sustainability quote. it seems to me that that was establishing a criteria that we have not heard quite that -- quite as specifically before. >> i'm not saying that they will change the zero interest rate target. but i'm saying, let me go to my pal, tony fratto, i heard him say that he could slow down the bond purchases that means create less money if the economy continues to grow. >> i think that's right. we are seeing that kind of transaction in the he economy, and the chairman was clearly signaling that. he was trying to signal it with the 6.5% target as a place to look down the
month with share prices at $35 and change. let's hope that happens because the stock is now at $41.50. that was one of the most successful stocks of the era. i won't discount the closing price, maybe four below, it's got to, have it has the best price trajectory of any right now. this is a couple we stood behind for ages saying they paid with the 3.8% deal and the stock has been creeping up. each time the stock gets hammered the analysts don't like it. why? there's been no real small business quote, so be careful. however, it's been a terrific buy after the quarter every time. finally, very controversial, we have pbh, remember that old one? you know how much we like the ceo. the street's turned against pvh, though. they are worried about the end grags of mortigo into the family of pvh brands. i think that's a mistake to turn on pvh. i would buy some before and after the quarter beginning with this, because when it reports, what we are going to find out that mortico brings to pvh that whole part of calvin klein it didn't have. it has the whole family of calvin klein brands. i think
structural change in the japanese economy. if they do, the experiment can end well, and that's in some sense what markets are counting on. >> what do we do about income disparity? if the government tries to redistribute, it doesn't work, does it? >> so, you know, when we talk about tax policy, changes in tax rates as was described over the debt limit, what's the first thing that we all ask ourselves and "the new york times" runs? what are the distributional consequences? will the rich be paying more? what about the middle class? shouldn't we be having that same discussion in the conduct of monetary policy? if you think about this monetary policy, if you've got the freedom, like ken and stan, to devote huge amounts of money into liquid assets, to play the risk game, you're going to be a huge beneficiary. so this is in some sense a policy where we also need to think about the distributional consequences. and this is in some sense a transfer to people that are rich. >> trickle-down economics. >> stan calls this trickle-down economic policy. others can see if it worked in fiscal. we'll see if it
of the way which people are concerned about in the short term. >> does today's number change your mind in terms of when the fed starts winding back given the fact that the employment number is definitely much better than everyone expected? >> much better. economists like to see trends. one month does not make a trend. they are going to make sure that it is gaining traction, and then they will start talking about using words about the overall economy, making it stronger, better. the ten-year yield has crossed over, too, after the data came out this morning. we expect it to see higher, but the fed is even talking about keeping their balance sheet exactly the way it is and letting run off so that the market doesn't suffer dislocations. >> have to run here, folks. let me take a quick survey. everybody likes this market of the four guests we have here. who expekts a correction and how much of a correction do you think could happen? rich? >> we could be in a quiet period. 95% of s&p 500 companies have reported earnings. not going to see earnings coming back until april. alcoa coming out so d
and the s&p 500. looks like this, a similar chart pattern, decline of the session right now of 5 and change. >> let's get to today's closing number with four very smart people. we have carol roth, brian bellski, michael holland, and our own rick santelli. welcome to all of you. ladies first. you're getting some of your merger activity, carol, that you've been looking for, even as this market goes higher. >> absolutely, bill. as we've been saying, buyouts are going to continue and they're going to continue. and i think that this really is a stock picker's market. and if i'm going to put my money anywhere, and i have, the one that i really like is bed bath and beyond. i mentioned this on the program a couple weeks back. it has now been validated in a number of publications. you have a company that's trading at a very reasonable valuation. it's got a net cash position and a very high historical return on invested capital. so to me, that creates a really good recipe for a potential buyout, and i think that that name and potentially others in the luxury goods sector, as well as throughout consum
? have you changed any of your behavior in terms of allocating capital, as a result of what we've seen in the last 48 hours? >> no, not really, maria. i still think that cyprus is certainly something to watch. but i think it's just part of the negotiation process, exactly what's happening in greece. we have to watch and see if it accelerates and this idea sweeps around europe, but i doubt that's going to happen. i actually think that europe is starting to present some opportunities. you have some opportunities, perhaps selectively in companies like adidas. nestle, as long as you're conservative and look for some dividends and look for some growth names that have good market penetration with consumers on a more affordable ba base, i still think there's opportunity in europe. the thing i would be concerned about right now is china. i'm a little concerned that china is starting to losing handle on what's happening in their economy, in terms of what's happening with real estate prices. that's something you've got to look at very carefully. >> okay. steven hammers, you've been skeptical of
for that. but if it does, you've got to buy it. because he thinks diana shipping is a $9 and change name headed to $14. that's in keeping with my view that this group is back. and for speculators, just speculators, it might be, along with the airlines and the mortgage insurers, the best place to play this market right now. after the break, i'll try to make you more money. >>> coming up, bill of health? all week cramer is checking out the cutting-edge science behind some of the biggest players in the biotech industry. tonight, a company forming a pipeline to fight devastating diseases. is it time to get behind their efforts. announcer: where can an investor be a name and not a number? scottrade. ron: i'm never alone with scottrade. i can always call or stop by my local office. they're nearby and ready to help. so when i have questions, i can talk to someone who knows exactly how i trade. because i don't trade like everybody. i trade like me. that's why i'm with scottrade. announcer: scottrade- proud to be ranked "best overall client experience." [ male announcer ] this is a reason to look
. and that's the big change of 2013. the big change to so many skeptics, including many in the media refusing to recognize. the markets have little memory and no justice. you may think all bank stocks should be sold because deutsche bank and bvva are going down. but if you're a loan officer in columbus, ohio, you don't know or even care about cyprus. and if you're a banker at citigroup, you're trying to figure out how to handle the huge influx of capital from the continent. what are we supposed to sell, right? what are we supposed to sell because of this inner relation or lack thereof? how many times, how many times does that have to occur to people before we realize how rong it is? how many times do we have to sell raw stores or bristol-myers because of cyprus? someone say we need to sell every single time we get bad news out of europe. i would say the admonition that there's a sucker born every minute fits these fine. every time the future sellers get in there and blowing out of stocks all over the place, it's been a terrific opportunity to -- >> buy, buy, buy! >> it's not bullishness peopl
cuts at the same time but no structural changes to medicare and the question is will that get -- do either of these plans get anybody anywhere or is everyone talking to themselves? >> they're talking to themselves. we discussed it yesterday. in the last negotiations you still have the fact there are republicans who think that the republicans gave too much and then there are democrats who think that the democrats didn't get enough. so you have those clashing interests. >> i think what happened in january kind of derailed everything because by having these incremental advances instead of a grand bargain throws off the possibility that you do get the grand bargain. you see both sides digging in making sure they respond to their base saying the types of things that their base wants to hear. >> there's a good piece in politico. i don't know if you saw it that michael allen wrote that really sort of walks through why the grand bargain may never happen and i think -- i don't know if it's ben's line or whose but no longer a passing game. it's a ground game. we're just sort of incremental tr
high ahead of the leadership change ahead of the boj tomorrow. >> the bull keeps on going after yesterday's 69-point loss and a bounce expected today as investors look to the fed. it kicks off its two-day meeting today with the best conference tomorrow. meantime, the vote is scheduled in cyprus hours from now and the latest deposit tax scheme. happy anniversary, apple dividend and it was a year ago when the tech giant announced its dividend in 17 years. will apple succumb to the bigger payout as it faces stiffer competition from samsung. lululemon doing the downward facing dog with the transparency with the iconic black yoga pants prompting the retailer to cut sales guidance and boeing clinches an order from ryanair. of course, we begin with the markets. the dow and the s&p 500 hoping to avoid their first three-day losing streak of the year. wall street will be paying close attention in about three hours from now. that country's parliament scheduled to vote on a proposed tax on bank deposits and the controversial measure appears set to go down in defeat. here in the u.s., policy
.s. carrier to drop smartphone subsidies. some call it a sea change in the way these things are sold. jim? >> t-mobile is the one who should be giving the phones away. t-mobile needs the customers. they can do whatever they want to try to stick it to apple and samsung, but the at&t, verizon stranglehold will just become even greater. when i saw this t-mobile i said geez, that's good for dan hessy and that's good for at&t and not that those stocks need any. those stocks have been fabulous stocks and you look at verizon maybe doing a vodafone deal. at&t is the apple company and t-mobile. that's why i said this is phoneacide. that's a great pitch. we're the guys that don't subsidize you that have just an okay service. i don't know, caveat emptor. >> is there nothing attractive about separating the cost of the phone from the cost of the service? >> not to care about t-mobile because they do have the sexist ads that are certainly -- >> i think that in the end we want to know how much great p phone power that we can get for little money. they're doing something i don't understand. i'm sure ther
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